I going to guess there was a trust involved.

Well I don't know if "sorting anything out" with the owner is necessarily required...you can just state to everyone involved that the PM agreement currently in place will be terminated upon sale of the property.

Can anyone offer any advice on lease structure and insurance requirements to get this started off on the right foot to allow for a win-win for all involved?

So trying to collect the $15.00 nuisance fine would open up a whole can of worms.And a year ago, the city here introduced recycling food scraps, involving another can.

But basically I would search the websites constantly for houses I thought fit me which a small criteria for me as I said above basically under 30k that rents above 600, I have always thought I would be willing to pay more for a rent ready one but never did pull the trigger on any.

It kept him involved and committed because he had money coming when we sold the property.

I've been involved in this type of process a few times feel free to reach out.

@Tom Barnicle, I agree with @Matt Morgan  that direct marketing is a good way to find off-market deals.By working with a list broker, you can get a list of property owners that have property fitting your requirements.

There plenty of other opportunities elsewhere, my clients are involved in institutional grade properties across the country.

It's a lot like a mechanic...if they are fair, can do good work quickly, can make professional recommendations....that would sound like a good fit to me.